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Coinbase confirms acquisition of Earn.com

CEO Balaji Srinivasan speaks onstage during TechCrunch Disrupt SF 2017. Photo: Steve Jennings/Getty Images for TechCrunch

Coinbase is acquiring Earn.com, a paid inbox service formerly known as 21 inc., with CEO Balaji Srinivasan joining as chief technology officer, confirming Axios's earlier reporting.

Bottom line: Coinbase is gaining a well-known figure in Silicon Valley and digital currencies as its CTO, while Earn.com, which began as a bitcoin mining company in 2013, gains stability as part of a larger company.